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The latest Business Insolvency Index from Experian reveals that, overall, the business insolvency rate for the UK maintained its low level of 0.08% for the fourth month running, down from 0.09% in May 2012.
The insolvency rate fell in seven out of the 11 government regions in May 2013 – a major improvement on the same month in 2012, when just one region, Yorkshire, saw an improvement on the previous year. Insolvencies in the north east fell from 0.14% in May 2012 to 0.11% in May 2013, and Scotland also continued its recent form as insolvency rates stayed at 0.03% for the sixth month in a row.
Looking at insolvencies by company size, smaller businesses – which represent the vast majority of UK companies – have again done well. The best performance compared to last May was among companies with six to 10 employees, down from 0.20% to 0.16%. In fact, the insolvency rate amongst all companies with less than 10 employees, representing 1.8 million businesses, hasn’t risen for the last four … [Read more...]